Lean hog futures posted losses of 20 cents to $1.60 on Friday, as Feb held onto gains of $1.87 this week. The national average base hog negotiated price was reported at $83.43 on Friday afternoon, up $2.81 from the day prior. The CME Lean Hog Index was reported at $83.06 on January 29, up 47 cents from the previous day.
After refuting reports of a pushback on the Mexico/Canada tariff start date, President Trump stated the February 1 date was still in place. There has yet to be any retaliatory measure put in place officially by either country, though Mexico has hinted at a response on the pork sector.
Managed money spec funds were trimming back their net long in lean hog futures and options by 213 contracts to 91,937 contracts.
USDA’s FOB plant pork cutout value was $1.82 higher in the Monday PM report at $94.75 per cwt. The loin primal was the only reported lower, with the belly up $8.31. Federally inspected hog slaughter for the week was estimated at 2.574 million head. That is 97,000 head above last week but down 128,152 head from the same week last year.
Feb 25 Hogs closed at $84.175, down $0.200,
Apr 25 Hogs closed at $90.350, down $1.575
May 25 Hogs closed at $94.525, down $1.075,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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